Marube: Sacco deposits belong to members, not government
Cooperative Alliance of Kenya CEO Daniel Marube has dismissed public fears that the government intends to seize Sacco savings to fund infrastructure projects. He clarified that the proposed Cooperatives and Sacco Societies amendment bills are intended to modernize the sector rather than grant the state control over member assets.
Cooperative Alliance of Kenya CEO Daniel Marube / HANDOUT With more than 14 million cooperative members, including about eight million Sacco members, Kenya’s cooperative and Savings and Credit Cooperative Organisations (Sacco) sectors are a cornerstone of the national economy, contributing roughly 10 per cent to 30 per cent of the GDP.
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